Conjoint Analysis
Conjoint Analysis explores the value consumers place on your products or services and their features. Through a series of conjoint (two or more parallel) questions in an online survey, consumers evaluate different sets of attributes (and the various attribute options, or levels) and make “trade-offs” between services or features.
Response across scenarios generates a robust data set processed using sophisticated modeling techniques. W5 can then gauge your consumers’ priorities, identify optimal bundles with market relevance, and explore demand and price sensitivity related to variations in marketplace offerings.
Is conjoint analysis appropriate for my research needs?
Will conjoint market simulators predict my products’ market share?
What are the benefits of working with W5 for conjoint analysis research?
Conjoint Analysis can help you:
Understand the unique contribution each attribute and level of that attribute brings to a product or service
Determine minute differences between a series of nuanced product offerings
Inform development of customized product offerings to specific target audiences
Model and explore consumer demand and price sensitivity based on a robust and reliable primary research data set
Connect with us to learn more about W5’s Conjoint Analysis capabilities and how we can support your team.
Explore
Conjoint Analysis is complex and overwhelming for many. In this three-part series, we break down what Conjoint Analysis is and how it can be used across multiple business applications.
See the blog post here.
W5 helped a legacy knife brand and its advertising agency gain in-depth understanding of consumers’ category behaviors, brand perceptions, and priorities with a conjoint survey.